Black Diamond Therapeutics Inks Licensing Pact With French Pharma Firm Servier For Its Early-Stage Cancer Drug Worth Over $700 Million
Servier Laboratories and Black Diamond Therapeutics Inc. (NASDAQ:BDTX) on Wednesday announced a strategic worldwide licensing agreement for BDTX-4933 for solid tumors.
Servier is a pharmaceutical company based in France governed by a non-profit foundation.
Under the agreement, Servier will develop and commercialize BDTX-4933, a small molecule designed by Black Diamond Therapeutics for RAF/RAS-mutant solid tumors.
Under the terms of the deal, Servier will lead the development activities and the worldwide commercialization of BDTX-4933 across multiple indications, including non-small cell lung cancer, with potential applications in other solid tumors.
Black Diamond Therapeutics will receive an upfront payment of $70 million and be eligible to receive up to $710 million in development and commercial sales milestone payments, along with tiered royalties based on global net sales.
Currently, in Phase 1 development, BDTX-4933 is designed to target RAS and RAF alterations in solid tumors.
The dose escalation and expansion cohort first-in-human study aims to evaluate the safety and tolerability, the preliminary recommended Phase 2 dose, and the anti-tumor activity of BDTX-4933 in adults with recurrent advanced/metastatic cancers harboring BRAF, CRAF, or NRAS mutations.
Black Diamond Therapeutics is developing BDTX-1535 for newly diagnosed patients with non-classical epidermal growth factor receptor mutant non-small cell lung cancer. Initial Phase 2 data are expected in the second quarter of this year, and Updated Phase 2 clinical data are expected in the second half of 2025.
Black Diamond ended 2024 with approximately $98.6 million in cash, cash equivalents, and investments, which is anticipated to provide a cash runway into the fourth quarter of 2026.
Price Action: BDTX stock is up 35.7% at $2.28 during at the last check Wednesday.
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